Controlled retreat after the jump

LAST UPDATE 15:20

by Manos Hachladakis

Profit taking moves have the lead in Athens Avenue which is retreating in a controlled manner after yesterday’s strong rise, with Aegean putting up some dikes.

In particular, after the negative opening, the General Index tried for a while to move upwards, testing a move up to 1,240.75 units (+0.27%), however, along the way, it surrendered any gains and now retreats by 0.8%, moving to 1,227 units .

The turnover is at 40.3 million euros, of which 1.3 million in 4 packages, while 10 million pieces have been traded.

The banking index is down 1% at 988, the large-cap FTSE is down -0.95% at 2,998, while the mid-cap FTSEM is down 0.33% at 2,006.

After a significantly upward week and gains of 1.44% yesterday, the Athens market is logical to make a stop for forces with portfolios to lock in some of the recent gains, at a time when there is a nervousness on the international boards as well.

At the center of trading-based attention are Mytileneos and the four banks, with the former down 2.3% on session-high turnover of €5.3m.

In banking stocks, Ethniki falls by 1.2% despite the strong results it announced before the opening with a profit of €855 million in the nine months, Pereos loses 1.1%, Alpha 0.65%, while Eurobank tries to move upward but with marginal changes in view of the presentation of its own figures after the conclusion of the meeting.

Aegean with +1.9% and a turnover of 2.3 million are trying to provide some support after the intention to buy back the warrants that the government decided to exercise, Jumbo with +0.4%, Titan with +1% and Ideal that stands out from the mid-cap with 2% profits and a turnover of 1.1 million euros.

On the contrary, OTE loses 1%, OPAP 1.05%, PPC 0.6% all with a turnover of more than 1.5 million and Motor Oil 0.4% with 940 thousand.

With a lower transaction value, EYDAP falls by 2.25%, Ellactor by 1.9% and Elvalhalcor by 1.8%.

It is noted that the new shares of Intralot from the capital increase will finally be introduced tomorrow for trading, as informed by the listed company, while the trading of the new shares of Trade Estates with the price of 1.92 euros was postponed to Friday instead of tomorrow Wednesday.

Internationally, European indices are slightly lower with the DAX at -0.15%, the CAC 40 at -0.5% and the pan-European Stoxx 50 at -0.35%, while the FTSE 100 is trying to move higher with +0.1%

In the USA the Wall Street indices completed their 6th upward session yesterday but with small gains in the region of 0.1% – 0.3%, with their futures moving slightly downward today.

Finally, the 10-year US yield falls to 4.62%, while the oil market is also bearish with WTI below $80 a barrel ($79.3) and Brent at $83.5. with losses of around 2%.